The Finance committee holds key over US trade issues, and played a key role last year in blocking a Senate bill threatening China with across-the-board tariffs.
But, today, Grassley seems to have 'given up' on Beijing having not taken quick steps to a market-determined exchange rate, after revaluation of their currency by 2.1 percent in July.
Grassley advisors feel that a "more balanced debate will be pursued" in the case of US-China trade relations even as the the Office of US Trade Representative is likely to put up trade figures next week.
United States Senate Committee on Finance
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